With this article, we would like to explicate the concept of Foreign Companies and PE in light of Indian Income Tax Act provisions. Foreign Companies ♠ Foreign company means a company which is not a domestic company, i.e. a company registered outside India in any...
The Reserve bank of India has announced the new reporting structure for FDI related transactions in which they have combined different reporting into a single combined form i.e. the Single Master Form (‘SMF’) which subsumed all the existing reporting in different...
Indian IT industry is one of the fastest growing industries in the country. It comprises of software industry and information technology enabled services (ITes), which even includes business process outsourcing (BPO) industry. It is considered as a pioneer in software...
The Union Cabinet has approved 72 changes to the Companies Act 2013, with a thrust on decriminalising compoundable offences and allowing direct foreign listing for domestic companies to boost “Brand India”. The nod for the Companies amendment Bill, likely to be tabled...
Article summarises Decisions Taken In 39th Meeting of GST Council on 14th March 2020. ANNUAL RETURN Relaxation of MSMEs from furnishing of Reconciliation Statement in FORM GSTR 9C for the F.Y. 2018-2019, for taxpayers having aggregate turnover > Rs.5 crores. Due...
The budget proposal to apply indirect transfer provisions to even Category II foreign portfolio investors (FPIs) could lead to the imposition of retrospective tax on certain transactions, experts said. The government had restricted the exemption from indirect transfer...
NBFC –Peer to Peer Lending platform (NBFC-P2P) is a type of Non-Banking Financial Company which carries on the business of providing services of Loan facilitation to willing lenders and borrowers through online platform. This type of Non-Banking Financial Company is...
In her budget speech, the Hon’ble Finance Minister, Smt. Nirmala Sitharaman had announced launching of a scheme in 2019 that would provide e-Assessment of Income-tax in electronic mode, in a phased manner, with no human interface. -On 7th of October 2019, the Revenue...
"This budget has both vision and action..” Finance Minister Nirmala Sitharaman, on Feb 01, 2020 unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive domestic economic growth that has slumped to lowest...
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